CAP Definition

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CAP is a series of European interest rate call options used to protect against rate moves above a set strike level.

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COMFORT LETTERS see KEEP-WELL AGREEMENTS.

DEBT COVERAGE RATIO is the ratio between the net income of an investment and the amount of debt service of the investment: expressed as (NOI / DS = DCR), i.e. it is the relationship of net operating income divided by annual debt service.

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